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which managers could become entrenched, they already bear a large proportion of the costs and have therefore an incentive to …
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effect), for higher shares the effect becomes negative entrenchment effect). Moreover, risk-aversion of managers and …
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We provide a comprehensive study of how different corporate governance mechanisms influence corporate innovation. Using panel data regression analysis across a sample of more than 13,600 firm-years for firms based in the United States between 1996-2010, we find that entrenched boards, though...
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